ServiceNow Acquires Pyramid Analytics
ServiceNow has acquired Pyramid Analytics to expand its capabilities in generative business intelligence. The move is intended to integrate AI-powered analytics into corporate decision-making processes. The acquisition reflects a growing enterprise demand for streamlined access to business intelligence tools.
- While financial terms were not officially released, the acquisition price is estimated to be in the "few hundred million dollars" range. - Pyramid Analytics was founded in 2008 by CEO Omri Kohl, Avi Perez, and Herbert Ochtman, and had raised over $200 million in funding prior to the acquisition. Its last major funding round in May 2022 was a $120 million Series E that brought the company to a valuation of nearly $1 billion. - The company’s "decision intelligence" platform is designed to unify data preparation, business analytics, and data science, allowing users to query data using natural language questions. - ServiceNow plans to embed Pyramid's technology directly into its core platform, including its Workflow Data Fabric and AI Platform, to enable what it calls "agentic automation," where AI agents can trigger and execute workflows based on data insights. - This acquisition is part of a larger strategic push by ServiceNow into AI and automation, following other recent purchases such as Moveworks, Veza, and the $7.75 billion acquisition of cybersecurity firm Armis. - Pyramid Analytics brings a roster of multinational clients, including Hallmark and Deloitte, to ServiceNow. - The integration is intended to allow business users to generate analyses in minutes that previously might have taken data teams weeks to prepare, according to ServiceNow.
